Financial Regulation, Climate Change, and the Transition to a Low-Carbon Economy: A Survey of the Issues

Financial Regulation, Climate Change, and the Transition to a Low-Carbon Economy: A Survey of the Issues
READ MORE...
Volume/Issue: Volume 2021 Issue 296
Publication date: December 2021
ISBN: 9781616356521
$5.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
English
Prices in red indicate formats that are not yet available but are forthcoming.
Summary

There are demands on central banks and financial regulators to take on new responsibilities for supporting the transition to a low-carbon economy. Regulators can indeed facilitate the reorientation of financial flows necessary for the transition. But their powers should not be overestimated. Their diagnostic and policy toolkits are still in their infancy. They cannot (and should not) expand their mandate unilaterally. Taking on these new responsibilities can also have potential pitfalls and unintended consequences. Ultimately, financial regulators cannot deliver a low-carbon economy by themselves and should not risk being caught again in the role of ‘the only game in town.’